Citi: Really, We’re Much Stronger Than We Used to Be

Citigroup wants the world to know how strong its capital position is, no matter what the Fed’s stress tests showed in March.

Bloomberg News

The bank said it is going back to the Fed with a new capital plan on Monday, three months after its first plan was partially rejected. It expects the Fed will act on the plan “later this year.”

Citi won’t seek an increased stock buy-back this year. That part was previously rejected by the Fed, according to earlier WSJ reporting.

Friday, the bank strenuously reiterated just how much stronger it has become. It noted the earlier test showed that Citi “comfortably exceeded the stress test requirements without Citi’s proposed capital actions” and that “Citi is one of the best capitalized banks in the world.”

Citi went on to say that “these strong capital and liquidity levels result from the decisions we made to make Citi a fundamentally different company today than it was before the financial crisis,” listing its moves to sell assets and pare back the assets at its bad-bank, Citi Holdings.

Comments (5 of 6)

Citi group bank thinks about the consumer’s benefits and the marketing strategy. They think that consumers are paying loan and they are under debt. They really thought well and I also think that this process will beneficial for the consumers.

But we bought Old Lane from Pandit for $800M and that went poof in a puff of smoke. The stockholders are only down by 95%? We are a $2.75 PPS before RS. The best day as a stockholder was voting Pandit salary and compensation down. Go stockholders!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

5:16 pm June 8, 2012

Investor wrote :

Pandit lied in 2011 when he said 2012 would be the year of capital returns to shareholders.
Pandit lied in 2012 when he said he would resubmit the capital plan with buybacks.

4:59 pm June 8, 2012

citi shareholder wrote :

we should be use to the lies by now. Pandit stuck it to the shareholders again. Just resign Pandit.

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